Gnosis Pay and Visa Collaborate to Increase Web3 Payments

  • Everywhere Visa is accepted, users will now have access to a onchain spending account.

Visa and Gnosis Pay, two of the leading decentralized payment rails that link TradFi and DeFi, have announced a cooperation.

Through the cooperation, a self-custodial Visa Debit Card that is connected to a Safe smart account is brought to market.

Put another way, aficionados of cryptocurrencies can now access a onchain spending account that enables them to make purchases at businesses that accept Visa.

According to Visa, this allows purchases at more than 130 million establishments in more than 200 countries.

Visa hasn’t hesitated to interact with the cryptocurrency sector in spite of the new ecosystem’s potential for disruption.

The company selected StarkNet to carry out its plans for automated payments from self-custodial wallets, which it unveiled in December 2022. The company used Solana for merchant settlements in USDC last year.

Those who use the new Gnosis Pay card early will be added to a whitelist for a “OG NFT,” which entitles them to exclusive benefits and in-person events. Zero fees, including transaction, foreign exchange, and off-ramp fees, will also be available to early users.

The Visa Card offered by Gnosis Pay will only be available to citizens of 32 European nations and have a value of euros. According to the corporation, plans are in motion to grow into the United States, Brazil, Mexico, Indonesia, and Mexico.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Puskar Pande

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